The cryptocurrency industry is attracting an increasing number of institutional players. This is evidenced by new investments in infrastructure, and the increasing attention that companies are paying to bitcoin as an asset class. The most important events of recent weeks are in the ForkLog review.
DePIN-IoTeX platform raised $50 million
The modular DePIN platform IoTeX has raised $50 million from SNZ Capital, Foresight Ventures, Borderless Capital, Amber Group, FutureMoneyGroup, Metrics Ventures, EV3, Waterdrip Capital and other investors.
$50M investment into IoTeX's DePIN ecosystem.
Funding from @snzholding, @ForesightVen, @borderless_cap, @ambergroup_io, @fmgroupxyz, @MetricsVentures, @EV3ventures, @waterdripfund, @SummerEverest & others.
The $50M will be injected into long-term staked $IOTX, our DePINsurf… pic.twitter.com/ucbPrbJ5cL
The funds raised will be used to accelerate the growth and implementation of DePIN.
The developer of the modular blockchain 0G Labs has raised $35 million
The startup 0G Labs, which is behind the development of the modular blockchain, has closed a pre-seed funding round in the amount of $35 million.
We are so excited to announce our pre-seed fundraise completion: https://t.co/EPxayZDjzP
At @0G_labs, we are building the first modular AI chain, and it has been our delight from day 1 to build the fastest programmable data availability solution for high-performance DApps. 🥳
Investments were provided by Hack VC, OKX Ventures, GSR, Animoca Brands, Arca, NGC Ventures, DWF Labs, Foresight Ventures, gumi Cryptos Capital and Dispersion Capital.
The company's valuation has not been disclosed.
0G Labs is developing a modular blockchain with a focus on decentralized applications using artificial intelligence. According to The Block, the team expects to make it 50,000 times faster and 100 times cheaper than competitors. The mainnet is scheduled to launch in July 2024.
Game developer Gunzilla Games raised $30 million
Gunzilla Games, the company developing the game Off the Grid, announced the raising of $30 million. Of these, $10 million is in the strategic funding round.
We are thrilled to announce that Gunzilla Games has secured $30M in funding! This round was co-led by @CoinFund_io & @avax, with incredible support from @Morningstar_vc & @_rcapital_.
This funding accelerates the creation of @playoffthegrid and our innovative @gunbygunz… pic.twitter.com/mQL1TgMIbd
It was led by Avalanche's CoinFund and Blizzard Fund with the participation of Republic Capital and Morningstar Ventures. The rest of the financing was received by the team through the sale of shares.
The funds raised will be used for the development and release of Off the Grid, a free blockchain game in the "battle royale" genre, which will be released on PC, as well as PlayStation and Xbox consoles.
Web3 startup XION raised $25 million
XION infrastructure Web3 firm has raised $25 million from Animoca Brands, Laser Digital, Multicoin, Arrington Capital, Draper Dragon, Sfermion, GoldenTree and other investors.
XION has raised an additional $25M to continue making crypto accessible to everyone, everywhere. pic.twitter.com/JkEIiuEkzA
— Burnt (XION)🔥 (@burnt_xion) April 1, 2024In December 2023, XION developers launched a testnet with a focus on "generalized abstraction", an infrastructure solution designed to simplify user interaction with Web3.
The technology does not involve the direct use of accounts, signatures, and other processes typical for interacting with crypto assets. Users can use the network based on Web 2.0-specific methods like email and Passkey technology.
Ellipsis Labs raises $20 million from Paradigm
The Ellipsis Labs team behind the Phoenix Decentralized Exchange (DEX) has closed a $20 million Series A funding round.
1/ We're excited to announce our $20M Series A led by @paradigm, to further our mission of building a sustainable DeFi ecosystem. pic.twitter.com/ahtWEZWX8H
— Ellipsis Labs (@ellipsis_labs) April 4, 2024It was headed by Paradigm with the participation of Electric Capital, Robot Ventures, Anagram Crypto and business angels, including Solana co-founder Anatoly Yakovenko.
According to DefiLlama, Phoenix ranks eighth in the Solana-based DEX rankings with a TVL of $14.2 million. Over the past day, the volume of trading on the stock exchange amounted to $286 million.
MyPrize Crypto casino Raised $13 million at a valuation of $140 million
The online cryptocurrency casino MyPrize has closed two rounds of financing totaling $13 million. The project's valuation has reached $140 million, according to The Block.
MyPrize co—founder Zach Bruch said that the company closed the first round of financing for $5 million in October 2023, and the second - for $8 million — in March 2024.
They were led by Dragonfly and Boxcars Ventures with the participation of a16z Scout, Mechanism Capital, Arrington Capital, Breed VC, JST Capital, 2 Punks Capital and other investors.
MyPrize is a Web3 gaming startup that supports streaming and allows users to play together. It is currently in early access mode, with a full launch scheduled for the second quarter of 2024.
Also on ForkLog:
The volume of investments in crypto startups increased by 38%.Amazon is investing $2.75 billion in Anthropic.Media: the developer of Farcaster was estimated at $ 1 billion.